Pan American Silver Corp
Is Silver More Valuable as a Precious Metal or an Industrial Metal?
Silver has been falling over the past few years, despite surging demand for its industrial use. Fundamentally, silver seems to be strong due to rising demand and a year-over-year shortfall in its supply.
Technical Indicators of Mining Stocks in 2016
Most mining companies are trading below their 100-day moving averages. A few months ago, they were trading at discounts compared to their significant premiums.
Gold Demand: India Supersedes China Once Again
India and China are close competitors for the title of number-one gold buyer. Together, the countries make up about 50% of the total global demand for gold.
Which Silver Miners Still Need to Work on Financial Health?
Coeur Mining’s (CDE) debt at the end of 1Q17 was $219.1 million, which is 57.0% lower than at the end of 1Q16.
Which Silver Miners Could Surprise on the Downside of Production?
Hecla Mining’s (HL) silver production recorded a fall of 27.0% year-over-year (or YoY) to 3.4 million ounces in 1Q17.
Mining Stocks: How’s the Correlation Trending?
Mining stocks with a higher correlation to precious metals will likely be impacted more by global indicators that influence precious metals.
Can Coeur Mining’s Production Levels Keep Accelerating?
In 1Q16, Coeur’s silver and gold production was slightly lower than market expectations. It produced 3.4 million ounces of silver and 78,000 ounces of gold.
Will Interest Rates Have a Substantial Impact on Gold?
The Federal Reserve is expected to raise the interest rate in its March 2018 meeting for what would be the sixth time since late 2015.
Gold Fell as US Interest Rates Soared
Investors were somewhat pessimistic about gold during the last quarter of 2016. Most of the fluctuations were due to the news of the interest rate hike.
Inside the May Correlation Trends for Precious Metals
As global tumult grips markets and investors turn to mining stocks as safe havens, it’s crucial to understand which stocks are closely tied to precious metals.
Why Did Gold Have the Best Month in Almost 4 Years?
Despite the losses on February 26, the precious metals maintained substantial gains for February. Gold had the best month in almost four years.
How Is the Gold-Silver Ratio Moving in April 2017?
As of April 18, 2017, gold and silver have risen 12% and 14.8%, respectively, year-to-date.
Behind Silver Miners’ Debt Repayment Capacities
Silver companies try to maintain an optimal level of debt-to-equity to lower their costs of capital and maintain an optimum level of risk-reward for shareholders.
Inside Silver Miners’ Financial Leverage after 3Q16
Investors in the precious metal mining industry need to know a company’s debt levels because high debt can strain a company’s credit rating.
How Are Analysts Rating Coeur Mining?
The market consensus rating for Coeur Mining stock is a “buy” from 60.0% of analysts. About 40.0% are recommending a “hold.”
Which Silver Stock Is Seeing Upgrades These Days?
On October 3, 2016, Deutsche Bank (DB) upgraded Coeur Mining (CDE) from “sell” to “hold.” The firm also increased its target price from $7.50 to $11.
Which Silver Miners Offer a Valuation Upside?
Coeur d’Alene Mines (CDE) is trading at a forward EV-to-EBITDA of 7.6x, which is lower than the average peer multiple of 8.3x.
What Made Coeur Mining Change Its Production Guidance?
Coeur Mining (CDE) achieved a quarterly silver equivalent production of 8.9 million SEO (silver equivalent ounces) in 2Q17.
Understanding the Debt Repaying Capacities of Silver Miners
High debt isn’t always bad if a company has the capacity to pay back its debt with its earnings.
Which Silver Miners Can Provide Free Cash Flow Upside Going Forward?
Free cash flow The generation of FCF (free cash flow) is important for precious metal mining companies (RING) (SIL). It helps them invest in projects that can drive long-term value, optimize their financial leverage, and provide shareholder returns. Silver mining companies are constantly trying to reduce their costs and capital expenditures in order to generate FCF. Hecla […]
Gold Prices Are Expected to Trade in a Narrow Range
The Fed rate hike expectation has been one of the biggest factors driving gold prices for some time. Interest rates have been near zero since 2008.
Silver Futures Show a Silver Lining
Recent global unrest and the equity market slump have weighed on silver while the haven appeal that has lifted up gold has also helped silver.
Which Silver Miners Need to Get into Better Financial Shape?
While precious metal prices remained buoyant throughout 2016, miners are leaving no stone unturned in their mission to prune their balance sheets.
Are Analysts Coming Around to Coeur Mining?
The market consensus rating for Coeur Mining stock is split between “buy” and “hold.” Of the nine analysts covering the company, 56% have “buy” recommendations.
Which Silver Stock Is Analysts’ Favorite These Days?
Precious metal miners with substantial exposure to silver have also performed well year-to-date. Let’s take a closer look.
These 10 Gold Stocks Matter Now to the Analysts Still Betting on Gold
Gold prices remain under pressure as the demand for alternative investments, including equity stocks and bitcoin, remain strong in the risk-on environment.
Higher Auto Sales in the US Fail to Boost Platinum and Palladium
Platinum futures for April expiry fell by almost 5.4% over the first five trading days of 2016. Palladium futures for March expiry fell by 12.5% YTD.
Why Analysts Love First Majestic Silver the Most
While First Majestic Silver (AG) has seen negative returns year-to-date (or YTD), it has outperformed the Silver Miners (SIL) Index.
Why Silver Miners’ Stock Performance Has Diverged in 2017
It’s important for investors to keep tabs on analysts’ recommendations and ratings, as they are market sentiment indicators. In this series, we’ll look at recommendations and ratings for silver miners.
Which Silver Miners Cut Cost Guidance in 3Q16?
Cost discipline and low-cost assets are crucial for silver miners. They help miners navigate lower metal price environments while improving margins and FCF.
Newmont Mining Rejects Barrick Gold’s Hostile Acquisition Bid
In a press release today, Newmont Mining said that Barrick’s unsolicited negative premium proposal is not in shareholders’ best interest.
Which Silver Miners Offer Diversified Exposure to Commodities?
For investors considering silver stocks due to their leveraged exposure to silver prices, the higher the company’s revenues derived from silver, the better.
Silver Miner Production Growth: The Outlook for 4Q16
Hecla Mining (HL) recorded strong 67% silver production growth and 19% gold production growth YoY (year-over-year) in 3Q16.
These Silver Miners Keep Improving Costs
Hecla Mining (HL) reported AISC (all-in sustaining costs) of $9.97 per ounce in 2Q17, an impressive improvement of 22.0% over the same quarter last year.
Which Silver Miner Offers Optimal Geographic Exposure?
Given rising taxes, royalties, changes to mining codes, and asset nationalizations in the past few years, many big mining projects have become uneconomical.
Technical Indicators in Silver: An Oversold Position in 2017?
Coeur Mining (CDE), Hecla Mining (HL), and Pan American Silver (PAAS) are trading 3.3, 7.9%, and 2.6%, respectively below their 50-day moving averages.
These Silver Miners Could Offer a Free Cash Flow Upside in 4Q16 and Beyond
FCF generation is vital for precious metal miners because it helps them invest in long-term value projects, optimize financial leverage, and offer returns.
How Has the Analyst Sentiment Changed for Silver Miners?
Among primary silver miners, Tahoe Resources (TAHO) seems to be an analyst favorite, with the highest “buy” ratings at 100% and no “sell” ratings.
How Are Silver Prices Influencing Major Silver Miners?
Silver miners have shown a significant correlation to gold prices at 0.90 since the start of 2013. Silver prices have a strong correlation as well.
Silver prices retreat from the key support for the third day
The falling wedge pattern could be seen in the May silver futures contracts. Silver prices were trading at the lower part of the wedge pattern on March 10, 2015.
Mining Stocks Are Recovering from Their Slump
The Direxion Daily Gold Miners (NUGT) and the ProShares Ultra Silver (AGQ), both leveraged mining funds, both have recovered and jumped 19.4% and 24.9%, respectively, on a five-day trailing basis.
What Put Coeur Mining in 2nd Place?
Right now, of the nine Wall Street analysts covering CDE stock, according to Thomson Reuters, 78% recommend a “buy,” while 22% recommend a “hold.”
Precious Metals and Mining Stock: What the Correlation Looks Like
As the price of gold rebounded on July 5, 2017, so did the stocks of many miners.
How Are Miners Tracking Their Correlation to Gold?
Precious metals mining stocks are tied to metals. In order to understand precious metals’ performance, it’s crucial to analyze precious metal companies.
Where Are Gold Charts Pointing?
Gold has been falling since touching its one-and-a-half month peak last week after Republican representative Donald Trump was elected president of the United States.
Where Is the Gold-Silver Ratio Headed?
The rise in the haven bids in 2016 has caused a jump in the price of gold by close to 17%. However, silver has increased only 8.3%—almost half the rise in gold.
How Silver Mining Companies Are Performing
The current turmoil in the stock markets has hurt most market participants. Investors are thus opting for safer investments like gold and silver.
No Negative Fund Flows for IAU
On March 3, when IAU stopped trading, its price was $12.17 per share. Later the price climbed to $12.37. IAU has risen about 18% on a year-to-date basis.
Are Silver Mining Stocks Attractive amid a Bullion Rally?
Silver has shown a decent uptrend since December. Easing trade relations with China was one of the important factors driving silver prices.
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Will the iShares Silver Trust ETF continue its recent rally?
The rally had pushed silver ETFs such as the iShares Silver Trust ETF (SLV), the ProShares Ultra Silver (AGQ), and the Silver Trust ETF (SIVR) higher.
Pan American to Buy Tahoe Resources in $1.07 Billion Deal
Pan American Silver Corp. (PAAS) announced today that it has agreed to buy Tahoe Resources (TAHO) in a $1.07 billion cash and stock deal.
Barrick Gold Makes a Hostile Bid to Acquire Newmont Mining
Today, Barrick Gold (GOLD) made an unsolicited bid for its rival Newmont Mining (NEM) in an all-share deal.
Will Silver Miners’ Multiples Expand after a Long Dry Spell?
On November 14, 2018, Pan American Silver announced that it was buying Tahoe Resources in a $1.07 billion cash and stock deal.
Why Gold Miners’ Mergers and Acquisitions Are Heating Up
Newmont Mining (NEM) and Goldcorp’s (GG) deal, the gold space’s latest mega-merger, may suggest miners are getting serious about turning things around for stakeholders.
Which Silver Miners Look Primed for a Rebound after a Dry Spell?
Of all the major silver stocks, Tahoe Resources (TAHO) is trading at the lowest forward EV-to-EBITDA (enterprise value-to-EBITDA) multiple of 3.3x.
Why Execution on Growth Projects Will Be Key for IAMGOLD Stock
CEO Steve Letwin stated during IAMGOLD’s third-quarter earnings call that it’s focused on becoming a low-cost producer.
Why Coeur Mining Has Climbed the Ranks among Analysts
Year-to-date, Coeur Mining (CDE) has almost matched the performance of the Silver Miners Index (SIL) with losses of 25%.
Which Silver Miners Look Reasonable at Current Valuations?
Of all the stocks we’ve covered in this series, Tahoe Resources (TAHO) is trading at the lowest enterprise-value-to-forward-EBITDA multiple of 3.5x.
Can Tahoe Resources Regain Analysts’ Lost Favor?
YTD (year-to-date), Tahoe Resources (TAHO) has had the worst performance of all silver miners with losses of 44%.
What’s Baked into Analysts’ Pan American Silver Ratings?
Pan American Silver (PAAS) stock has outperformed its peers as well as silver prices YTD.
Why Analysts Are Optimistic about Coeur Mining
On a YTD basis, Coeur Mining (CDE) has almost matched the performance of the Silver Miners’ Index (SIL) with losses of 27.1%.
How Do Analysts Rate Silver Miners?
In 2018 so far, silver prices have significantly underperformed gold prices.
Why Tahoe Resources Has Lost Favor with Analysts
YTD, Tahoe Resources (TAHO) has risen 3.5%. Its “buy” ratings are only better than Hecla Mining (HL).
Why Analysts’ Ratings for Pan American Silver Have Improved
Pan American Silver (PAAS) stock has outperformed its peers as well as silver prices YTD (year-to-date). As of June 26, it has risen 12.7%.
Why Analysts Like First Majestic Silver the Most
First Majestic Silver (AG) is one of the few silver miners (SIL) to have a double-digit return YTD. Its stock has risen 10.8% as of June 26.
Analyzing Analysts’ Love-Hate Relationship with Silver Stocks
The five silver miners we’ll be discussing in this series have broadly outperformed silver prices and the silver miners’ index YTD.
Looking at the Spread between Gold and Silver
The gold-silver spread is 77, indicating that it takes ~77 ounces of silver to buy one ounce of gold. In May, this spread stood at 78.
How Market Volatility Moved Gold on June 25
Precious metals saw downward price movement on June 25. Gold fell ~0.26% and was trading at $1,266.00 per ounce on the day.
US Dollar at a 5-Month High, Gold at 5-Month Low
Besides overall market volatility, the most important determinant of precious metal prices, especially gold’s (IAU) (SLV), is the US dollar.
Silver: The Second-Favorite Metal
With continuing downward sentiment in precious metals, it’s important to look at what large traders and hedge funds are doing with their positions in metals.
How the Correlation of Miners Moved amid Choppy Markets
Over the past three years, PAAS, AUY, and GOLD have seen declining correlations with gold, while FNV saw a mixed correlation to gold.
Reading the Gold-Palladium Ratio
Whereas palladium has been the strongest among the four precious metals over the last month, it has fallen 7.2% year-to-date, possibly due lower car demand in China.
Can Silver Miners Rebound in 2018 after a Long Dry Spell?
In 2018, the iShares Silver Funds ETF (SLV), which tracks spot silver prices, has fallen 2.8%, while the Silver Miners’ Index (SIL) has fallen 5.5%.
The Most Crucial Determinant of Gold Prices
Another crucial factor behind precious metals’ rise was the US dollar index, which fell 0.42% on May 10.
How Precious Metals Are Moving in Relation to Core Indicators
Gold traded at $1,312.20 per ounce on May 7. Its RSI level has dropped to 30, which indicates a near-term reversal in its price.
How Is Platinum Performing in 2018 So Far?
In this part of the series, we’ll focus on the gold-platinum spread, which compares the price performances of the two metals.
All 4 Precious Metals in the Red: Is There Hope for Revival?
In this series, we’ll analyze the various factors that affected precious metal prices at the end of April.
How Gold and Silver Performed amid Geopolitical Tensions
The past one month has been good for precious metals with the exception of platinum.
Why Downbeat March Jobs Report Might Not Be Enough to Move Gold
The Bureau of Labor Statistics released US jobs data for March 2018 on April 6. The job growth was weaker than expected.
Following Metals, Miners Saw an Upswing on April 11
When precious metals rose on April 11, 2018, miners followed suit. Most miners saw an up day on April 11, though that may not always be the case.
Precious Metal Miners and Their Technicals
All four precious metals except platinum saw their prices rise on Tuesday, April 10, 2018.
How Is the Dollar Affecting Precious Metals?
Besides ongoing geopolitical concerns, a crucial factor that gold keeps looking to for directional moves is the US dollar.
How Platinum Is Moving Relative to Gold
Platinum and palladium are used to cut down carbon monoxide emissions and so are used as an autocatalyst in vehicle engines.
How Mining Stocks Have Performed in April So Far
Initially, the Fed’s decision to raise the interest rate didn’t affect miners and metals much.
How Are Miners Correlated to Gold in 2018?
This year, AngloGold has shown the highest correlation with gold, while Hecla Mining has shown the lowest correlation.
US Economic Outlook Remains Strong: Why Gold Might Still Rise
The Bureau of Labor Statistics released the US jobs data for February 2018 on March 9. The data was strong.
Can Coeur Mining’s Outperformance Continue in 2018?
Coeur Mining’s (CDE) YTD (year-to-date) operational performance has been strong. Among major silver miners, it has given the highest return.
Silver Underperforms Gold in 2018: Can It Correct Its Course?
As of March 16, 2018, the SPDR Gold Shares ETF (GLD), which tracks gold prices, had risen 0.8% YTD.
Keeping an Eye on Mining Stocks’ Correlation with Gold
Mining stocks’ correlation with gold is crucial, as gold is famously known as the big brother of precious metals.
How Silver Miners Have Performed in March 2018
On March 6, all four precious metals had an up day, which also led to gains for miners.
How Miners’ Correlation Is Moving in 2018 so Far
Precious metal mining stocks tend to take their cues from gold prices. Gold is the most crucial of the four precious metals, and its direction becomes the direction for the other three metals most of the time.
How Precious Metals Are Moving versus Market Indicators
Precious metals’ reaction was also due to economic numbers indicating the health of the US economy in general.
Tug-of-War: How Inflation and Interest Rates Are Pulling Gold
The better the economic forecast for the US, the sooner we could see more interest rate hikes.
The Performance of Mining Stocks in January 2018
SBGL, PAAS, and AU have increased 0.80%, 7%, and 16.7%, respectively, on a 30-day trailing basis.
A Look at Valuation Catalysts for Coeur Mining Stock in 2018
Coeur Mining (CDE) is trading at a forward EV-to-EBITDA (enterprise value to earnings before interest, tax, depreciation, and amortization) multiple of 7.9x.
A Look at Coeur Mining’s Production Guidance for 2018
Coeur Mining (CDE) reported a record quarterly silver equivalent production of 11.7 million ounces in 4Q17.
The Positive and Negative Correlation to Gold
The iShares MSCI Global Gold Mining ETF (RING) and the VanEck Vectors Junior Gold Miners ETF (GDXJ) have risen 5.0% and 1.1%, respectively, during the last one-month period.
How Miners’ Prices Are Trending in Relation to Moving Averages
In this article, we’ll focus on miners’ moving averages and relative strength index (or RSI) readings.
How Are Miners’ Correlations to Gold Trending?
Mining stocks tend to take their cues from gold.